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...great explosion in executive and Wall Street pay began about the same time that Washington was slashing taxes on the highest earners. The top federal marginal rate plummeted from 70% in 1980 to 28% in 1988. (It's now 35%.) Some CEOs who are critical of the compensation status quo but who don't want government telling them how to pay people point to taxes as a possible answer. "I wish income was more equitable," the head of a big financial institution told me recently. "I have no problem with paying 50% taxes or more. But government meddling with compensation...

Author: /time Magazine | Title: Should Executive Pay Be Regulated? | 8/10/2009 | See Source »

...brave astronauts who immeasurably boosted America's status during the Cold War undertook their daring adventures with full knowledge of the mortal dangers involved. But even more than their achievements, the true measure of their greatness is the humility they have shown--in a world where very ordinary men cannot stop bragging about trivial triumphs. Ajit Parihar, LUDHIANA, INDIA...

Author: /time Magazine | Title: Inbox | 8/10/2009 | See Source »

...Everyone else didn’t seem to mind the sad little guy. I wondered aloud why no one had kicked his ass yet, or at the very least removed him. A few Uruguayos relayed his story. Creeper was on horse tranquilizers. But given his parents’ social status (famous psychiatrists…connection?), he and his bag were always welcome at Montevideo establishments...

Author: By D. PATRICK Knoth | Title: Fleeing the Fuzzy Earmuffs | 8/10/2009 | See Source »

...this next couple of years are our window of opportunity for a carefully considered reset. The untenable status quo, most obviously and critically in how we use energy and pay for health care and educate our citizens, but also in the ways we define contentment, are not immutable givens. Rather, they are the results of choices we made and habits we acquired and systems we built back in the 20th century. Different, 21st century choices are now available to us. Dysfunction and profligacy aren't inevitable, and the American tendency to magical thinking can be kept in check. The diehard...

Author: /time Magazine | Title: The Reset Economy: What Can We Learn From the End of Excess? | 8/8/2009 | See Source »

...fact, there are a growing number of warning signs that the Iraqi government is no longer under the sway of the U.S. forces that brought it into being. Reese notes a "sudden coolness" being displayed by Iraqi commanders toward their American counterparts after June 30, the date when the Status of Forces Agreement, concluded between Baghdad and Washington last December, required that U.S. combat forces withdraw from Iraq's towns and cities. Following that date, suspects detained by U.S. soldiers were freed by Iraqis. And the Iraqi government openly disdained the recent offer by Vice President Joe Biden during...

Author: /time Magazine | Title: The Case for Leaving Iraq — Now | 8/8/2009 | See Source »

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